How much cash?

[OnYellowBrickRd]

We will be flying from Jhb to Brisbane at the beginning of April. We have no idea how much cash we'll need to get us going. How much do you suggest we carry (considering we'll have accommodation for the first month and will have access to funds in the Aussie bank account within about a week from landing)? We will not be able to use our ZA credit card.

Thanks

[Heymanse]

Just a question, why would you only have access to money a week after landing? Are you not able to transfer some money before you fly out? You'll be able to go to your bank first thing in the morning after your arrival and activate the account and have immediate access to the money you transferred from South Africa into that bank account. We transferred about $21,000.00 which covered our accommodation and a second hand car, groceries, deposit on a long-term rental and some spending money while checking out our new home.

[Werns]

Yes, I had the same question. Why won't you have money for a week?

[OnYellowBrickRd]

Ok, fine. 2 or 3 days

[Jordy]

I am guessing about $500 would be enough. Take the amount that would if you were going on an overseas holiday. But with sim cards and taxis and take aways for a day or two you could spend quickly those first few days. I dunno I am guessing about $500.

[AndreaL]

Gee, depends what you want to do, are you just talking about some day to day expenses for a week, or will you be sightseeing and eating out etc? Maybe buying some little presents for your daughter while you wait for the container?

[Brad76]

For a day or two 500 should be enough if your temporary accomodation is prepaid

[Donovan83]

If you're coming to Perth, you will need at least one million dollars, and that's just for your first coffee

[MandC]

It really depends on what you want to use the money for. If it is spending only, I'd also say $500 should be more than enough for 3 days.

[AndreaL]

Oooooh, min dae

[OnYellowBrickRd]

Oooooh, min dae

At times I cannot wait to get onto that plane , but at this stage there is still so much to do . We're very excited and freaked out...all at the same time.

[MandC]

At times I cannot wait to get onto that plane , but at this stage there is still so much to do . We're very excited and freaked out...all at the same time.

So excited for you guys. Wish we were that close. If everything just went as planned, we would have been on our way too in April. Now it will probably be closer to July / August. Tempted to wait until summer again. Not to keen to arrive mid-winter....

[Brad76]

If you're coming to Perth, you will need at least one million dollars, and that's just for your first coffee

Lol....they're not going via Zimbabwe

[JacoO]

Save yourself the hassles of worrying about cash - take you SA Credit Card - draw $200 at the Airport (if you really need to - the atm's at the airport are usually more expensive than the normal banking atm's)

Then swipe you SA Credit card until you get your Aus bank cards.

- I have been here for 2 months and used my SA Credit Card today - has to do final payment for bed and mattress and could only do $1000 on my Aussie Credit Card per transaction - used my SA Card for the other bit.

Do not go and "arrange foreign exchange" with your bank in SA - you are wasting your time and money Rather spend the time and find a coffee shop and read a newspaper - start practising the Aussie Lifestyle

Edited March 8, 2013 by JacoO

[Jordy]

Unfortunately I think what you are suggesting is illegal. There is a difference between using a RSA credit card while on holiday and using one while resident in a foreign country.

Ok I found this which says it is illegal:

1. • When planning to study, work, or live temporality overseas, you will not be allowed to use your credit card until you return to South Africa.
   • If any of the above is violated, your credit card account will be blocked by our card division and reported to the South African Reserve Bank.

[21yearsoutofrsa]

It is certainly a contravention of South African forex regulations

There are a number of things the RSA Central Bank can do about this

they can refuse to pay the counter bank in Australia, this would be the dumbest thing possible as it is effectively a default on foreign debt.

they can block the use of the credit card for overseas use and the card will be "declined", even though there are funds avaliable and even if the card has a positive balance. If they do do this they will almost certainly block, and prevent any tansaction on all accounts that can be found in RSA.

The amounts may be so small that they more than likely will not bother.

Edited March 8, 2013 by 16yearsoutofrsa

[JacoO]

you all take this way too serious. Arrange with your Credit Card division that you are going on temporary business for 3months. So when you use your credit card no questions will be asked.

I arranged all my banking details and POA on my accounts and both my and my wifes bankers did not say a word about "and just remember, you may not use your credit card now"

We all know that you are not supposed to use it, but it surely goes a long way when you need it and it is available.

Just pay the card and the outstanding balance. Nobody will raise an eyebrow.

[AllisonW]

As suggested by Jaco, you can arrange it at the bank.

We actually completed documents at ABSA stating we would be overseas for two years and would be using our SA credit card etc. No problems at all. Eight months down the line I am still using it with no hassles.

We opened a westpac bank account from SA, transferred about $25000 and were able to go into the branch the day after arrival and activate the card. We took our passports and were able to draw cash even though we waited about two weeks for our cards to be mailed.

We also took $200 cash which absa arranged for us for snacks at the Sydney airport etc.

[HadEnoughofJuju]

OK, let me expand because OYBR has left out some key factors that may explain why cash and how much.

We are not flying on conventional tickets, they are concession tickets. Unfortunately we have to stick to SAA's concession rules which means we can only fly direct to Australia on SAA (non code sharing flights) and the only flights that match that description are the flights from Johannesburg International to Sydney which is not our final destination. After landing we will need to buy tickets from Sydney to Brisbane, the one problem with flying on concession is that we have no idea when we are actually going to get on the plane. It could be as easy as arriving on 1 April, booking in and flying, if there is no space we will need to go back on 2 April and repeat the process and so on until there is space for us. This means that we have no idea when we will reach Sydney and as such cannot book tickets to Brisbane in advance.

Another unfortunate problem is that (and yes Jordy you are correct) using any bank cards after taking up permanent residence in another country is illegal and could cause us serious problems when going through the formal emigration process. One of the SARS forms requires that you to fill in your date of departure, copies of this form along with banks statements have to go to SARB and if they find that there are transactions after this date we could end up getting a rather hefty fine for evading foreign exchange controls. Given that we can't use the credit card we will need to pay cash for the tickets (2 adults an 1 almost 6 year old).

It will be at least say 5 days before we will be able to get to the bank and validate our account (which will basically have all our available funds in it before we leave South Africa) hence the question about how much cash do you think we will need for at least the first week.

[Jordy]

Sheesh you right about leaving out some minor details!

I still think $500 will get you through 5 days. This excludes hotels and flights from Sydney to Brisbane. You can look up details of how much that costs on the net and add on accordingly.

The $500 is purely for food, buses, sim cards, etc.

[JacoO]

Sheesh you right about leaving out some minor details!

OK - now your first post that stated CCs are not an option makes perfect sense!

$500 is a lot is Aus! you will get far with it, but since you are running around between cities I would suggest a bit more to be safe.

$750 maybe would get you around for a while - to put it into perspective : I bought all the basics for the first shopping trip (brooms, mops, cleaning stuff and food and and and... at Coles for $260)

A beer in a bar is $10

A good take-away meal is $10 (but you can get away with $7)

A taxi-- this depends $20 for a 5Km trip? traffic etc dependant.

Shuttles are usually around $15 per person

Coffee $3.00-$3.50 per cup

[HadEnoughofJuju]

On the use of the credit card thing. I read what has now turned into a horror story for a South African family on the net the other day. Short story, they didn't have cash or money in their Australian bank account so decided to use their South African credit card and are now fighting a R250000.00 fine for evading foreign exchange laws. Sorry but that's not a risk I am willing to take.

[Sunnyskies]

If you just need to buy basic groceries, pay for public transport and buy one or two small things for your daughter $500 will be enough. It may not be enough if you want to rent a car as you will need enough for the bond if you can't give them a credit card. Remember money is like water through your hands when you first arrive.

[JacoO]

Remember money is like water through your hands when you first arrive.

I can vouch for that - the first few days it feels like your life savings are being spent at every corner

You will not be able to rent car - this will make it almost impossible to find a rental apartment in a short period of time - you can rent a car using EFTPOS cards in AUS, but they put a hold on the money and think it can take up to 7 days to release the funds again - make sure you are geared for this when you get your cards)

( Unless you can put cash down on the "security deposit" as mentioned - and it is a lot.. something like $1000 - it differs from rental agency to the next, but keep that in mind )

You will only be able to "easily" get an AUS Credit Card once you have a Residential Address with Proof (rental agreement etc - I have noticed a Rental Agreement goes far in Aus - until you can get your Aussie Drivers License - but that you can only get when you have a residential address)

I would say - if you have the money available - convert ENOUGH! you don't want to be stranded without cash if something goes wrong - if it was just you and your wife - no problems, but you have a little one with you.

[JacoO]

On the use of the credit card thing. I read what has now turned into a horror story for a South African family on the net the other day. Short story, they didn't have cash or money in their Australian bank account so decided to use their South African credit card and are now fighting a R250000.00 fine for evading foreign exchange laws. Sorry but that's not a risk I am willing to take.

With you going the Formal Emigration route I would definitely agree.

** but for anyone else that is scared about using your CC for the first month or two until you are sorted with all your AUS cards, I don't see a problem - I arranged to use my card for 3 months with my bank without any questions. (But I am not yet at formal emigration - didn't need to do it as most of my $$ was in Provident Funds and not RA's)